An organization of retirees has announced the release, after three years of arguments and a Freedom of Information request, by the Social Security Administration of a copy of the first known public copy of the U.S.-Mexico Social Security Totalization Agreement.
The TREA Senior Citizens League said the document reveals what was expected, a huge threat to the future of Social Security, because any Mexican worker who has as little as 18 months of employment history in the United States could end up qualifying for some Social Security retirement benefits.
Here are some interesting details:
For example, a worker who turns 62 after 1990 generally needs 40 calendar quarters of coverage to receive retirement benefits. Under the cross-country agreements, workers can combine earnings from both countries in order to qualify for benefits in the U.S.
The agreements generally provide that workers need only 18 months of coverage in the U.S. to qualify.
However, the league said Mexico's retirement system is "radically" different from other nations, the group said. "There, only 40 percent of the non-government workers participate in the system, as opposed to 96 percent of America's non-government workers. Additionally, the U.S. system is progressive, meaning lower-income workers get back much more than they paid into the system. But in Mexico, workers get back only what they put in, plus interest."
And the Democrats want to make those who are getting ripped off already to fund the retirement of illegals by raising the ceiling on taxable amounts. Not exactly an example of economic freedom.